Press release from from the Indiana Economic Development Corporation:
State Signs Memorandum of Understanding with Chinese Commerce Agency
(INDIANAPOLIS – May 28, 2010) – Indiana Secretary of Commerce Mitch Roob joined Zhang Yingxin, Deputy Director General of the China Investment Promotion Agency of the Ministry of Commerce today to sign a memorandum of understanding that could spur additional economic opportunities between China and the Hoosier state. The agreement was signed during the first U.S.-China Advanced Technology Vehicle Summit, held in Indianapolis.
The Investment Promotion Agency of the Ministry of Commerce, P. R. China is responsible for promoting China’s domestic and foreign investment and is engaged in cooperation with international economic organizations, foreign investment promotion agencies, chambers of commerce and business associations on behalf of the Ministry of Commerce. The memorandum of understanding outlines ways to strengthen trade and economic development opportunities between Indiana and China.
“Indiana has had a history of cultural and educational exchanges with China, dating back to the days of Governor Robert Orr who signed the sister-state agreement with Zhejiang Province in 1987,” said Roob. “We share many economic similarities with the region, particularly in the areas of automotive manufacturing and pharmaceuticals, and are committed to further exploration of the partnership.”
“As Chinese companies look to expand into the U.S., Indiana has the manufacturing and life science capabilities to attract a significant portion of this new investment,” said Zhang Yingxin. “We are pleased to formalize this partnership with the state of Indiana and look forward to opening the doors to new international trade opportunities.”
The U.S.-China Advanced Technology Vehicle Summit brought a delegation of more than 70 Chinese automakers together with Indiana manufacturers of components for hybrid and plug-in electric vehicles to share information and explore potential business opportunities. The event is hosted by the Energy Systems Network, a non-profit organization focused on growth and commercialization within Indiana’s clean technologies and energy sectors.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.